Hmm . . .so it appears i have been credit crunched - woke up today to find that all my bank cards (HSBC) have been withdrawn because i am viewed as a high risk customer, since i am self employed and frequently in and out of my overdraft - they are replacing my cards with Solo cards (like you have at Uni). They sent no letter, or warning that they were doing this, it was only when my card got declined and i phoned the bank that i was made aware of this.

I cannot now access my bank account, or utilise it in any wat, until the new card turns up in 4 to 5 days.

This was despite the fact that i am in credit with the Bank, and that my company account has sizeable funds in it.

When i went to the branch to find out more, i found a huge cue of people with the same problem , and this in a branch that usually has 2 customers a day.

I was then told that thismorning HSBC cash flow froze as they could not supply the amounts of cash that were trying to be withdrawn at the same time and the cash machines all went off line, and as such everyone deemd risky was instantly downgraded.

Bugger . . . might be time for a HHSB firesale

fuck that is bad news VV. hang on to that superb Aende whatever happens.

I'm with HSBC, and you've just made me nervous.

urrrrrr, shit! Am also with HSBC

me too. not sounding very good. HSBC is supposed to be one of the safe ones. what the fuck is all this about. and not even a letter? bastards.

shit. i was wondering why my card would not let me deposit money today a the mechine. fuck shit cunt.

We're all fucked. I'd better go back to Iceland, where things are much better.

I'm with First Direct. It's HSBC for people who want customer service.

(No doubt I've just jinxed myself there).

I know - thing is my overdraft is only a grand, not exactly high finance, but it appears that since i twice went over the overdraft limit, even though i paid it off immediatley, that i am considered to risky. I have fuck all credit rating anyway as i have only been self employed for 11 months so its impossible for me to get any sort of finance (not a bad thing as it means i dont go and finance my self up to the hilt on some carbon porn!).

Legally, they cannot change banking arrangements, for which there are standing contracts, without formal notice, or agreement.

But the government would be on their side. It will be a problem.

This is rather strange given this:

http://www.forbes.com/markets/econom...markets20.html

HSBC just took a £750,000,000 cash injection. you wern't trying to withdraw more than £750,000,000 were you vinylvillain?

fuck sake.

HSBC, as far as I know, has the strongest position of any international bank at this present time. Maybe they are just trying to keep it that way.

it sound like it's simply the amount of time you've went overdraft rather than how quickly you managed to pay back the draft.

damn mate I feel your pain (well, not exactly in similar situation but after taking out £30 and was £2.50 overdrawn, I got hit with a £300 overdrawn fines due to not paying back asap, the fine add up over time).

They are changing slogans...

HSBC: The world's local bank -----> HSBC: The world's only bank.

fck. all my banking is with them, i too, go in and out of overdraft. but i hope they take note that ive got thousands holed up in my business accnt (all stored for tax tho). all scary sht.
bad luck, vv.

that reminds me. need to get my credit card off my missus. :(

this is bull shit, HSBC is scared that its customers are leaving in droves, so it does some thing that would fundimentaly undermind the confidance of any of its customers, to save it self for 5(ish) days. Who ever made this desision is the kind of person gets people trampled durring a fire drill. All moves like this can do is create a worse situation. firstly people need to spend money if we are going to keep the economy moving, so stopping them from having acess to it is not going to help. Seccondly this shakes confidance so people might not make that purchase they where considering, and those who would not leave the bank, now will consider it.

I switched to HSBC from HBOS when i became self employed because i viewed them as the safest bet - anyway looks like impulse arrospok purchases are a thing of the past!

HSBC is the second safest bank after Lloyds apparently so quite suprised they are clawing back money...

Ed - you can claim that back. Look it up on the money blogs... Don't take those.

From what i understand it wasnt that they didnt have the cash, but that the falls this morning in the stock market caused some sort of "computer says no" situation that fucked shit up as far as depositing/withdrawing cash at the bank.

Safest 2 places for your cash are Northern Rock and Bradford and Bingly. Unless you have more than 50k in your account don't worry it's covered.

thats shit man.. what makes it worse is i swear you still owe me a pint. but i'll hang back.. give you some time and that...

This could be very very bad for me.

True . . but if i were you i would package that pint up with others i owe people, then sell it on to Easts or South Drinks, with a 1/2 pint a week interest package

jesus christ. i never really noticed it til now. that is horrendous spelling.

HA! awesome. i'd rep you if i could be bothered.

oh I did, a couple days in Barclay sorted that out, especially I was a student that time and should have an overdraft limit.

Vinylvillain, you are probably a victim of automation. HSBC will have rest the risk calculators based on account activities and made the changes automatically without human intervention.

I would suggest setting up a meeting with your branch manager to discuss the matter and delivering an ass kicking. Complain about the inconvenience, lack of communication, impact on your business and embarrassment of not being able to spend your own money whilst in credit. Offer to relocate your company finances without restitution. I reckon you should be good for £50 for about half an hours work.

Yeah i am seeing him on Monday as the que was too big today - they did say that they were as aware as i was of the changes, hence the "computer says no" explanation

Holy shnizz pizz I haven't had the news or radio on all day today and just noticed the FTSE 100 has dropped below 4000.

"H I P S T AR"

Banks are odd mysterious places. I got a 'we're gonna send the boys round if you don't pay up' months before I was due to start paying off a graduate loan. Then out of the blue they cancelled the overdraft on my current account. I say out of the blue, a helpful chap at the branch said he just noticed that the bank was due to cancel my overdraft that day so he rang me to suggest I should get to a cash machine and lift as much cash as I could to last me the 5-7 days it would take to reinstate my overdraft. Which they eventually did.